HomeMy WebLinkAbout2007-04-24; Public Financing Authority; Resolution 331
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RESOLUTION NO. 33
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A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
4 CARLSBAD PUBLIC FINANCING AUTHORITY APPROVING THE
2007 OPERATIONS PLAN AND APPROVING THE OPERATING
5 BUDGET AND PLAY RATES FOR THE PERIOD AUGUST 1, 2007
THROUGH DECEMBER 31, 2007 FOR CARLSBAD MUNICIPAL
6 GOLF COURSE. PROJECT NO. 39721.
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8 WHEREAS, in December, 2003, the Board of Directors of the Carlsbad Public Financing
9 Authority ("CPFA") did approve proceeding with the development of the Carlsbad Municipal Golf Course
1 o Proj ect ("Proj ect"); and
. 1 WHEREAS, it is anticipated that the Carlsbad Municipal Golf Course will be open to the public in
August 2007; and
WHEREAS, Kemper Sports, Inc. is recommending play rates for the project that are competitive
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and comparable to similar daily fee municipal golf courses in the San Diego County area; and
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NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Carlsbad Public
15 Financing Authority of the City of Carlsbad, California, as follows:
16 1. That the above recitations are true and correct.
17 2. That the 2007 Operations Plan for the Crossings at Carlsbad is approved.
18 3. That the operating budget for the period of August 1, 2007 through December 31, 2007 is
19 hereby approved.
on 4. That the play rates for the period of August 1, 2007 through December 31, 2007 are hereby
21 approved.
22 5. That the Board does hereby grant the CPFA Executive Director and the Finance Director
23 authority to advance to project funds to cover estimated operation losses as well as provide working capital
24 advances to allow for the adequate cash flow as to begin operations.
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III
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PASSED, APPROVED AND ADOPTED at a Special Meeting of the Carlsbad
Public Financing Authority held on the 24th day of April, 2007, by the following vote to
wit:
AYES: Board Members Lewis, Kulchin, Hall, Packard and Nygaard
NOES: None
ABSENT: None
, Chairman of the Board
ATTEST:
LORRAINE M. WOOD, Secretary
(SEAL)V